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EUR/USD Long Term Technical Analysis
U.S presidential election and the Fed interest-rate cut have shifted the momentum to the U.S. dollar which put pressure on its counterpart. EUR/USD heavily bearish since 2 months ago and the bearish movement seems gaining momentum. There is no bullish sign yet for now but further rate-cut by the Fed is expected to continue. Currently, the ECB refinancing rate sits at 3.4% while the Fed interest-rate at 4.5%. There is a big difference between the rate which caused weakness in EUR/USD. The longer the situation continues, EUR/USD will continue the bearish movement. EUR/USD fell with strong bearish momentum since it ... (full story)
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